What is the Current Market Size and Forecasts of Drug of Abuse Testing Market? Learn The Investment Strategy Of Market Players To Increase Business Growth - Danaher Corporation, Siemens AG, Merck KGaA, Waters Corporation, Roche Holding AG, Quest Diagnosti

The drug of abuse testing market size is expected to reach $9.1 billion by 2023, growing at a CAGR of 9.6% between 2017-2023. The market is driven by increased adoption at organizational levels, increase in the consumption of illegal drugs, and high production and trade of illicit drugs, worldwide. Also, the global rise in the number of road accidents and death rates, initiatives by government and non-profit organizations to reduce drug abuse levels, and technological advancements are increasing the demand for such products.

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As per the findings of the research, consumables held the larger share in the drug of abuse testing market in 2016, since consumable are easily available for use and provide rapid test results when compared to equipment. Rapid test kits are used at a large scale and its consumption is expected to increase at faster rate during the forecast period, since they are easy to use and provide result in a short span of time, as compared to assay kits & reagents.

Geographically, North America has been the largest drug of abuse testing market, with the U.S. being the larger contributor to the regional market, as compared to rest of North America. The leading position of the North American market is mainly due to the increased availability of illicit drugs, rising workplace monitoring for consumption of illicit drugs and increased drug trafficking in the region. According to National Institute on Drug Abuse (NIDA), in 2013, an estimated 24.6 million Americans aged 12 years or above, constituting approximately 9.4% of the total population, had used an illicit drug, which was an increase of 8.3% from 2002. The increase was mainly due to rise in the use of marijuana, the most commonly used illicit drug.

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Some of the other key players operating in the drug of abuse testing industry include Danaher Corporation, Siemens AG, Merck KGaA, Drägerwerk AG & Co. KGaA, Express Diagnostics Int'l, Inc., bioMérieux S.A., Waters Corporation, Roche Holding AG, Quest Diagnostics Inc., Laboratory Corporation of America Holdings, Alere Inc., Abbott Laboratories, Randox Laboratories Ltd., Psychemedics Corporation, Bio-Rad Laboratories, Inc., Sonic Healthcare Ltd., and ThermoFisher Scientific Inc.

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GLOBAL DRUG OF ABUSE TESTING MARKET SEGMENTATION
By Product
• Consumable
o Rapid Test Kits
o Assay kits & reagents
o Others
• Equipment
o Immunoassay analyzers
o Chromatography instruments
o Breath analyzers
By Sample Type
• Urine
• Saliva
• Hair
• Others
By End User
• Hospitals
• Laboratories
• Workplace
• At home
• Others
By Region
• North America
o U.S.
o Rest of North America
• Europe
o U.K.
o Germany
o France
o Italy
o Rest of Europe
• Asia-Pacific
o Japan
o China
o India
o Rest of Asia-Pacific
• Rest of World (RoW)
o Brazil
o Rest of RoW

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This release was published on openPR.